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Blackball List

Discussion in 'General Appraisal Discussion' started by bobby462, Dec 3, 2003.

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  1. bobby462

    bobby462 New Member

    0
    Nov 6, 2003
    You appraisers are going to love this story.

    Two years ago I had a trainee and she had developed a relationship with a mortgage company called Aames Mortgage ( I think that is the spelling). Anyway, She was doing very good work and I had begun to trust her with more and more "judgement" calls while still reviewing everything. This one client had an in house rep that had a client that needed an appraisal and they called my trainee direct. She began working on the job and she was concerned about the value and she told the client. The client then began to manipulate her and coerse her and never once did the client go through me or talk to me, at this point I thought the job was going smoothly. The broker then went and gathered three additional comps and gave them to my trainee and talked her into putting them in the report. Still nobody talked to me. When the report was ready I reviewed it and did not like the overall picture. After talking to the trainee, I became more comfortable. She is a good person that was simply being manipulated. She said that the comps were the best available and most overall similar so, after looking at the market, I too decided they "fit" the property.

    Here is the good part. The in house mortgeg broker then took the appraisal to underwriting where they cut the cut the value slightly and then placed my name a a blacklist. Only after I was notified of the slight cut did I dig further and learn of the broker's coersion. The trainee left my guidance and went to work with another appraiser and, I am told, continued to do work with the mortgage company. Meanwhile, every six months or so this company reviews a file that has one of my appraisals and then tells the broker that they will get another appraisal because I am blacklisted at their place. Not their broker, not the trainee, me! You want to know why I am blacklisted, it was not really for appraisal problems. When I discovered the level of coersion that the broker had engeged in on my trainee I threatened to report them for coersion (to whom I don't know) and told them I would never perform work for them again. They then acted against me.

    Every six months or so I decide to sue them and then I get busy and forget about it. I have never been removed from an approved list. Today I am mad, but they are a small company and I don't hear of them much, by the end of the day I will forget about it again. What a crock!
     
  2. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    I had a brief and not nice experience with Aames a few years ago. Don't know if they blackballed me but I did them!

    Same ole 'Do what I tell you to, not what's right, or we'll never give you any more work!"
     
  3. Indiana Jones

    Indiana Jones Member

    1
    Oct 16, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Indiana
    Ditto for me what Pam wrote.
     
  4. Tater Salad

    Tater Salad Member

    1
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Missouri
    Same in my market. When they first came to St. Louis, the manager was a good friend of mine. He didn't play that game, and left when he realized that this stuff was from the top down. Don't worry about Aames. I doubt any legitimate lenders share black lists with them. They are not well respected.
     
  5. Randy Beigh

    Randy Beigh Senior Member

    0
    Jan 16, 2002
    Kyle

    There is so much in your post, but I'm going to address a couple of things.

    One, Aames is no small lender. See http://www.aames.net/index.asp as an idea.

    As the trainer, supervisor, employer, or whatever, you are 100% responsible for what the trainee does. It doesn't matter if the trainee wasn't communicating with you nor does it matter if the lender wasn't communicating, this is your baby. At least this is true in Washington.

    Don't know how much experience you have with employees, but it sounds like you need better communications skills with them. The lender issue is a different issue as far as I am concerned, but your employees should be keeping you informed of what is going on, but you need to ask the right questions and that didn't happen.

    "She is a good person that was simply being manipulated."

    Man, I gotta be honest. If I had an employee that did not communicate what was going on, ultimately, getting me into trouble, I would really be mad and that person's job is history. You, however, continue to give her the benefit of the doubt. Why? You could lose your license over this behavior. I don't think you are taking this whole thing as seriously as you should be.
     
  6. aprazer

    aprazer Junior Member

    0
    Feb 27, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    I interviewed with Aames for a staff appraiser job a few years ago. It was bizarre. I came real close to telling the interviewer to go ...................

    The only form they used was a 2055 or a 704, and you worked on this escalating commission thing. You got a certain amount just by getting an appointment, and you were supposed to have the owner fill out the loan paperwork when you got there, and you got extra for each level of paperwork you could get them to provide. It something like an extra $25 for a W-2, $25 for last two pay stubs, etc...

    They were using software to locate people with low balance mortgages or no mortgages and offering re-fi's and equity loans. No "A" or "B" quality borrowers. They seemed to be very interested in older people with lots of equity. I got the impression they would get a name and be very aggressive. You were basically making a sales call. Actual appraising was barely discussed. I remember hearing a few years ago that they were accused of predatory lending.
     
  7. bobby462

    bobby462 New Member

    0
    Nov 6, 2003
    Randy,

    I appreciate your concern but the trainee left for reasons directly related to this type of situation. It was dealt with and I take it very serious.

    As for Aames, they are a small lender here and they have a very poor reputation. I will tel you how serious I took it, I called the corporate headquarters and eventually got in touch with the head of the company and explained what they had done. Communication is not a problem for me. I found out about what had been hidden from me after the fact......that is part of the reason the relationships were terminated.
     
  8. Claude From NY

    Claude From NY Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    aprazer: Yes, that's too funny. Back then I was going on a number of interviews just to check out the competition and I went on the Aames one also. When I heard the part about having the borrower fill out and sign the paperwork I could not help but laugh in their faces and run faster than the wind from there.

    By the way, do you remember where the interview was, Westbury??
     
  9. aprazer

    aprazer Junior Member

    0
    Feb 27, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Of course Claude-You don't forget interviews like that one. It was at the Marriott residence inn in Plainview. I think they wanted to open a branch in Westbury.
     
  10. George Hatch

    George Hatch Elite Member

    48
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    Hey Claude,

    I gotta hand it to you, that's the coolest avatar around. The only thing is that you can't use my likeness without my permission ;) (just kidding!)
     
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